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EURUSD - Downward trend will continue, Short trade by market price recommended

Jacob Powell on FXSSI Jacob Powell Expert
main-sell-market-trend-1
Forecast Details
PairEURUSD
Publication Time11/11/24 8:06 AM
Direction Sell
Status Closed (1.0620)
8:06
8:06
Nov. 11, 2024
Forecast
-90 p
1.0780
Stop Loss
1.0690
Entry
+85 p
1.0605
Target 1
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Chart & Analyst Comments

main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.
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